What is Uniswap?
Uniswap is a completely different kind of exchange that uses an automatic liquidity protocol, a very recent trading methodology that is fully decentralized, meaning it isn’t owned and run by a single company (see below).
The Ethereum blockchain, the second-largest cryptocurrency project in the world by market capitalization, is the foundation on which the Uniswap platform was developed in 2018. As a result, it is compatible with all ERC-20 tokens and supporting infrastructure, including wallet services like MetaMask and MyEtherWallet.
Additionally, Uniswap is entirely open source, allowing anyone to replicate the technology and build their own decentralized exchanges. Users may even list tokens on the market for no charge. This alone is a significant distinction from traditional centralized exchanges, which are profit-driven and have exorbitant listing costs. Because Uniswap is a decentralized exchange (DEX), users always retain control over their money, unlike centralized exchanges that force users to hand over their private keys so that orders can be logged on a database instead of being carried out on a blockchain, which is more time-consuming and expensive.
How does it work?
Two smart contracts — an “Exchange” contract and a “Factory” contract — run Uniswap. These are automated computer programs made to carry out particular tasks when certain criteria are met. In this case, the exchange contract handles all token swaps, or “trades,” while the factory smart contract is used to add new tokens to the platform. On the new Uniswap v.2 platform, any ERC20-based token can be exchanged for another.
What is Uniswapțs token?
A governance token is UNI, the native token of Uniswaps. This allows holders to decide how the platform should develop going forward, including how newly produced tokens should be allocated to the community and developers and any adjustments to fee structures. In an effort to keep consumers from switching to the competing DEX SushiSwap, the UNI token was first developed in September 2020. Users of SushiSwap, a fork of Uniswap, were enticed to allow SushiSwap to reallocate their cash to the new platform by rewarding them with SUSHI tokens one month before UNI tokens launched.
Users received governance rights over the new protocol and a share of all transaction fees paid to the platform with this new kind of token.
In response, Uniswap produced 1 billion UNI tokens, of which 150 million would be given to anybody who had ever utilized the network. 400 UNI tokens, or more than $1,000 at the time, were given to each person.
But what is Genius Assets doing on Uniswap?
Well, we think that this is the best part! Our listing will be on the 12 of September 2022, directly on Uniswap, at 12 PM UTC.
But that is not all. After the first day of listing, on the 13th of September, Uniswap and IUX will launch the Farming Program, where you can earn rewards.
You know and understand the farming process from Quickswap and now you might be an expert on it.
All you must do is build a pair of IUX/USDC that you will put on the Farming Program, and you will automatically generate a passive income, in UNI rewards.
How does that help you?
As Genius Assets Marketplace is a platform where you can diversify your investment portfolio, we didn’t mean only diversifying your real-world assets portfolio. Since the ecosystem is underpinned by GeniuX Token, you will be able to diversify your cryptocurrency portfolio as well. You’ve started with QUICK, and now you will be able to add one more coin, the UNI.
Stay tuned for more information and for tutorials that will be available on our Medium and YouTube accounts, just for you. Until then, don’t forget to subscribe to our Telegram Announcement Channel and our Official Telegram Group, where we post every day new details regarding the project.